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Mortgage Rates Drop after a wild week
As new administration sets in, fiscal policies take notice. As the weekly jobs reports come in,  economists are uncertain of several aspects of the current market. This has caused the 30-year fixed rate mortgage to dropped to 4.17%. This is slightly lower than last weeks 4.19% but still higher than the 52-week rate of 3.65% from last year. 
The 15-year Fixed-rate mortgage has also lowered a bit from last week's rate of 3.23%. With the new rates in, Home buyers are urged to lock into a loan as they are still at historic lows. The current administration is set to make huge changes to Dodd-Frank and the FHA Mortgage Insurance Cut, urging potential homebuyers to jump into a market that seems to be running low on inventory. 
Jobs are getting better...at a snail's pace. When the December jobs report came out, economists were eager to see if the holiday season may have stabilized a choppy jobs market. The results were bittersweet. While jobs were up, they did not show the level of growth that experts were hoping for. Wages, on the other hand, were high, logging in at 0.4% gains. Higher wage gains don't always mean a stronger economy. The higher wages can trigger inflation and interest rates on a ... more

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